Queensland has warned mining company BHP that its mining licenses could be revoked if the company doesn’t continue investing in the state.
BHP, the world’s largest mining company by market capitalization, reported a 37% drop in its underlying profits for the year ending in June
Thungela Resources reported a 69% drop in profits during the first half of the year due to lower coal prices and logistical challenges.
Demand for Asian thermal coal remains. Miners are offering limited spot cargo due to high production costs and royalties.
I’m starting to change my outlook on BTU from bad to better.
ARLP reported a net income of $169.8 million, or $1.30 per unit in Q2 2023, up from $163.5 million and $1.23 per unit in Q2 2022.
BTU, ARCH & TECK Earnings
NSW Treasurer Daniel Mookhey is considering increasing coal royalties in the state to obtain a fair return for resources.
European natural gas prices rose 3.9% as traders considered extreme heat and concerns over reduced Russian fuel supplies.
Chinese President Xi Jinping made it clear that China will not allow its path to curb emissions to be dictated by others.
BHP is open to selling its coal mines separately, potentially allowing Whitehaven Coal to bid for the Daunia mine without raising equity.